Huron County Community Foundation FY2022 filing

Tax-deductible

Norwalk, OH501(c)(3)Foundations & GrantmakersEIN 85-4391782Revenue $593K in FY2022

On file with the IRShuroncountycommunityfoundation.org12 Benedict Ave, 44857-2173 · Norwalk, OHTax-exempt since Oct 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The organization awards Community grants to 501(c)(3)tax exempt organizations in the spring and fall each year along with, award teacher mini grants to each school in late fall. These grants are to benefit organizations and schools in Huron County, ohio. These grants provide the opportunity to tax exempt organizations to help members of the Community and the schools are able to DO special projects that impacts the students and enriches their experience. The advancement officer spends approximately 95% of their time meeting with organization's, businesses and individuals looking to set up a fund and also letting the Community know these grants are available to tax-exempt organizations and schools. These grants are made possible through donor-advised funds, endowments, scholarships, and fields-of-interest funds to list a few. The funds are funded through the donations from individuals, families and businesses.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $1.7M a year · 88% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.5M
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$593K
-89% vs prior year
Spent
$346K
To programs
64%
Net assets
$4.2M
By yearFY2021–FY2024
Revenue
$593K
FY2022▼ -89%
Tap a bar for its year
Revenue by fiscal year
FY2021$5.3M
FY2022$593K
FY2023$1.1M
FY2024$988K
Expenses
$346K
FY2022▲ +289%
Tap a bar for its year
Expenses by fiscal year
FY2021$89K
FY2022$346K
FY2023$252K
FY2024$298K
Net assets
$4.2M
FY2022▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2021$4.8M
FY2022$4.2M
FY2023$5.5M
FY2024$6.4M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $222K Management & general 27% · $93K Fundraising 9% · $31K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Huron County Community Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards community and teacher grants to Huron County nonprofits and schools.

Questions for Huron County Community Foundation

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Provided by the organization

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1 program · $222K · in their own filed words · FY2022
01

The organization awards community grants to 501(c)(3) tax exempt organizations in the spring and fall each year along with, award teacher mini grants to each school in late fall. These grants are to benefit organizations and schools in huron county, ohio.

$222Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 23 grants · $421K · 2021–2024
Village of New LondonFY2024$17,274
Western Reserve Local SchoolsFY2024$16,381
Unitemized GrantFY2024$12,000
New London Local SchoolsFY2024$10,807
Norwalk Area United FundOH · FY2024$10,000
Huron County Humane SocietyOH · FY2024$8,128
South Central SchoolsFY2024$6,963
Norwalk City School DistrictFY2024$6,875
The Salvation ArmyNY · FY2024$6,000
Norwalk City School DistrictFY2023$21,490
Western Reserve Local SchoolsFY2023$15,321
Village of New LondonFY2023$12,756
Firelands Historical SocietyOH · FY2023$12,472
Unitemized GrantFY2023$9,200
Norwalk Arts Center LLCOH · FY2023$6,500
Norwalk Area United FundOH · FY2023$6,500
South Central SchoolsFY2023$6,000
See all 23 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$593K
Ln 12
Gifts and grantsLn 1h$261K
Investment incomeLn 3$234K
Fees for servicesLn 2g$98K
Money outPt IX
$346K
Ln 25
Programscol B$222K
Managementcol C$93K
Fundraisingcol D$31K
Owns and owesPt X
$4.2M
net assets · Ln 32
Cash and savingsLn 1–2$59K
Total assetsLn 16$6.7M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$261K
Fees for servicesLn 2g$98K
Investment incomeLn 3$234K
Gains on assetsLn 7$91K
Total revenueLn 12$593K
Assets in detailPt X, end of year
CashLn 1$59K
Cash and savings togetherLn 1–2$59K
InvestmentsLn 11–13$6.6M
Total assetsLn 16$6.7M
LiabilitiesLn 26$2.5M
Net assetsLn 32$4.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$53K$59K
InvestmentsLn 11–13$7.5M$6.6M
Total assetsLn 16$7.5M$6.7M
LiabilitiesLn 26$2.8M$2.5M
Net assetsLn 32$4.8M$4.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$189K$189K
Grants to domestic individualsLn 2$10K$10K
Management feesLn 11a$104K$37K$45K$22K
Investment management feesLn 11f$21K$21K
Office expensesLn 13$699−$60$379$380
OccupancyLn 16$3K$1K$645$645
TravelLn 17$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$14K−$18K$24K$8K
Total functional expensesLn 25$346K$222K$93K$31K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $988K$298K$691K$6.4M 990 PDF
FY2023 $1.1M$252K$819K$5.5M 990 PDF
FY2022 Viewing $593K$346K$248K$4.2M 990 PDF
FY2021 $5.3M$89K$5.2M$4.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $593,459 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,692,228$261,494
I-9 Program service revenuePrior year $52,645$98,050
I-10 Investment incomePrior year $516,589$233,915
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $5,261,462$593,459
I-13 Grants and similar amounts paidPrior year $22,983$199,393
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $65,875$146,410
I-18 Total expensesPrior year $88,858$345,803
I-19 Revenue less expensesPrior year $5,172,604$247,656
Part VI · Governance 14 of 14 board members independent, 3 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $593,459 across 6 lines filed
VIII-1f All other contributions, gifts and grants$261,494
VIII-1h Total contributions, gifts and grants$261,494
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $98,050$98,050
VIII-3 Investment incomeExcluded from tax $143,279$143,279
VIII-7 Net gain or loss on sales of assetsExcluded from tax $90,636$90,636
VIII-12 Total revenueRelated to mission $98,050 · Unrelated business $0 · Excluded from tax $233,915$593,459
Part IX · Statement of functional expenses $345,803 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $189,393$189,393
IX-2 Grants to domestic individualsPrograms $10,000$10,000
IX-11a Management feesPrograms $36,821 · Management $44,891 · Fundraising $22,446$104,158
IX-11f Investment management feesManagement $21,254$21,254
IX-13 Office expensesPrograms −$60 · Management $379 · Fundraising $380$699
IX-16 OccupancyPrograms $1,290 · Management $645 · Fundraising $645$2,580
IX-17 TravelPrograms $1,880$1,880
IX-23 InsuranceManagement $1,497$1,497
IX-24 Other expenses (24a–d)Programs −$17,729 · Management $24,479 · Fundraising $7,592$14,342
IX-25 Total functional expensesPrograms $221,595 · Management $93,145 · Fundraising $31,063$345,803
Part X · Balance sheet $6,685,068 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $52,721$58,585
X-11 Publicly traded securitiesStart of year $7,485,198$6,626,483
X-16 Total assetsStart of year $7,537,919$6,685,068
X-17 Accounts payable and accrued expensesStart of year $462$282
X-25 Other liabilitiesStart of year $2,758,617$2,481,668
X-26 Total liabilitiesStart of year $2,759,079$2,481,950
X-32 Total net assets or fund balancesStart of year $4,778,840$4,203,118
X-33 Total liabilities and net assetsStart of year $7,537,919$6,685,068
Part XI · Reconciliation of net assets $4,203,118 net assets at year end
XI-1 Total revenue$593,459
XI-2 Total expenses$345,803
XI-3 Revenue less expenses$247,656
XI-4 Net assets at start of year$4,778,840
XI-5 Net unrealized gains (losses) on investments−$823,378
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,203,118

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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